UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
_________________________________________
FORM 8-K
_________________________________________
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 11, 2022
_________________________________________
(Exact name of Registrant as Specified in Its Charter)
_________________________________________
(State or Other Jurisdiction of Incorporation) | (Commission File Number) | (IRS Employer Identification No.) | ||||||
| (Address of Principal Executive Offices) | (Zip Code) | |||||||
Registrant’s Telephone Number, Including Area Code: (442 ) 232-6080
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
_________________________________________
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |||||
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |||||
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |||||
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |||||
Securities registered pursuant to Section 12(b) of the Act:
| Title of Each Class | Trading Symbol(s) | Name of Each Exchange on Which Registered | ||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company ☒
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o
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Item 2.02. Results of Operations and Financial Condition.
On August 11, 2022 , Acutus Medical, Inc. (the “Company”) issued a press release (the “Press Release”) announcing its financial results for the quarter ended June 30, 2022. A copy of this press release is attached as Exhibit 99.1 to this current report on Form 8-K.
The information under Item 2.02 in this current report on Form 8-K and the related information in the exhibit attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such filing.
Item 9.01. Financial Statements and Exhibits.
(d)Exhibits
Exhibit Number | Description | |||||||
| 99.1 | ||||||||
| 104.0 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |||||||
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| Acutus Medical, Inc. | ||||||||
| Date: August 11, 2022 | By: | /s/ David Roman | ||||||
| David Roman | ||||||||
| President, Chief Executive Officer and Chief Financial Officer | ||||||||
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Exhibit 99.1 | |||||
Press Release |  | ||||
Acutus Medical Reports Second Quarter 2022 Financial Results
Carlsbad, Calif. – August 11, 2022 – Acutus Medical, Inc. (“Acutus” or the “Company”) (Nasdaq: AFIB), an arrhythmia management company focused on improving the way cardiac arrhythmias are diagnosed and treated, today reported results for the second quarter of 2022.
Recent Updates:
•Reported revenue of $4.1 million in the second quarter of 2022, compared to $3.7 million in the first quarter of 2022, and $4.7 million in the same quarter last year.
•Global mapping procedures volumes increased 20% from the same quarter last year.
•Completed first closing of the left-heart access portfolio sale to Medtronic, Inc. and debt refinancing to fund strategic growth priorities on June 30, 2022.
“Our teams continued to execute our strategy in the second quarter, as we intensify focus on utilization and procedure volume as the key drivers of our business,” said David Roman, President & CEO of Acutus. “We registered another quarter of record procedure volumes with year-over-year growth worldwide. Higher procedure volume was complemented by increased revenue share capture within our accounts, as electrophysiologists increase adoption of the Acutus product portfolio. In addition to positive trends in utilization, we made significant strides to strengthen our financial position, completing the first closing of our left-heart access portfolio sale to Medtronic, refinancing our debt, and implementing further cost reduction initiatives.”
Second Quarter 2022 Financial Results
Revenue was $4.1 million for the second quarter of 2022, compared to $4.7 million in the second quarter last year. This decrease of $0.6 million, or 13%, was primarily attributable to a decrease of $0.5 million in capital revenue and $0.2 million in disposable revenue as stocking orders for AcQMap installs declined with the decrease in new customer accounts. Gross margin was negative 138% for the three months ended June 30, 2022 and negative 59% for the three months ended June 30, 2021. This decrease in gross margin was primarily attributable to excess and obsolescence charges to inventory, recognition of manufacturing variances, and idle capacity on console manufacturing.
Excluding the net gain on the sale of our left-heart access portfolio of $43.6 million, operating expenses on a GAAP basis were $23.0 million for the second quarter of 2022, compared with $24.5 million in the same quarter last year. The decrease of $1.5 million was primarily attributable to a decrease of $2.7 million related to headcount related expenses, offset by a change in fair value of $1.2 million for the contingent consideration related to the acquisition of Rhythm Xience, Inc.
Net income on a GAAP basis was $5.7 million for the second quarter of 2022 and net income per share was $0.16 on a weighted average basic and diluted outstanding share count of 28.3 million, compared to a net loss of $28.7 million and a net loss per share of $1.02 on a weighted average basic and diluted outstanding share count of 28.2 million in the same period of the prior year. Excluding amortization of acquired intangibles, non-cash stock-based compensation expense, goodwill impairment, gain on sale of business, debt refinancing charges, restructuring charges, the employee retention credit benefit and changes in the fair value of contingent consideration, the Company’s non-GAAP net loss for the second quarter of 2022 was $26.2 million, or $0.93 per share, compared to a net loss of $25.0 million, or $0.89 per share in the same period of the prior year.
Total cash, cash equivalents, marketable securities and restricted cash was $93.1 million as of June 30, 2022.
Non-GAAP Financial Measures
This press release includes references to non-GAAP net loss and non-GAAP net loss per share, which are non-GAAP financial measures, to provide information that may assist investors in understanding the Company’s financial results and assessing its prospects for future performance. The Company believes these non-GAAP financial measures are important indicators of its operating performance because they exclude items that are primarily non-cash accounting line items unrelated to, and may not be indicative of, the Company’s core operating results. These non-GAAP financial measures, as Acutus calculates them, may not necessarily be comparable to similarly titled measures of other companies and may not be appropriate measures for comparing the performance of other companies relative to the Company. These non-GAAP financial results are not intended to represent and should not be considered to be more meaningful measures than, or alternatives to, measures of operating performance as determined in accordance with GAAP. Non-GAAP net loss is defined as net income (loss) before income taxes,
Press Release | | ||||
adjusted for stock-based compensation, amortization of acquisition-related intangibles, acquisition related costs, discontinued operations, asset/goodwill impairments, changes in the fair value of contingent consideration, restructuring charges, stock repurchases and other adjustments for non-operating items, such as gain on sale of business, debt financing charges, and employee retention credit benefits. To the extent such non-GAAP financial measures are used in the future, the Company expects to calculate them using a consistent method from period to period. A reconciliation of the most directly comparable GAAP financial measure to the non-GAAP financial measure has been provided under the heading “Reconciliation of GAAP Results to Non-GAAP Results” in the financial statement tables attached to this press release.
Webcast and Conference Call Information
Acutus will host a conference call to discuss the second quarter 2022 financial results after market close on Thursday, August 11, 2022 at 1:30 p.m. Pacific Time / 4:30 p.m. Eastern Time. To access the live call via telephone, please register in advance using the link: https://register.vevent.com/register/BI91a149ee60de483ab484237f5ac7b27c. Upon registering, each participant will receive an email confirmation with dial-in numbers and a unique personal PIN that can be used to join the call. The live webinar of the call may be accessed by visiting the Events section of the Acutus investor relations website at ir.acutusmedical.com. A replay of the webinar will be available shortly after the conclusion of the call and will be archived on the company’s website.
About Acutus Medical, Inc.
Acutus is an arrhythmia management company focused on improving the way cardiac arrhythmias are diagnosed and treated. Acutus is committed to advancing the field of electrophysiology with a unique array of products and technologies which will enable more physicians to treat more patients more efficiently and effectively. Through internal product development, acquisitions and global partnerships, Acutus has established a global sales presence delivering a broad portfolio of highly differentiated electrophysiology products that provide its customers with a complete solution for catheter-based treatment of cardiac arrhythmias. Founded in 2011, Acutus is headquartered in Carlsbad, California.
Caution Regarding Forward-Looking Statements
This press release includes statements that may constitute “forward-looking” statements, usually containing the words “believe,” “estimate,” “project,” “expect” or similar expressions. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, the Company’s ability to continue to manage expenses and cash burn rate at sustainable levels, continued acceptance of its products in the marketplace, the effect of global economic conditions on the ability and willingness of customers to purchase the Company’s systems and the timing of such purchases, competitive factors, changes resulting from healthcare policy in the United States and globally, including changes in government reimbursement of procedures, dependence upon third-party vendors and distributors, timing of regulatory approvals, the impact of the coronavirus (COVID-19) pandemic and Acutus’ response to it, and other risks discussed in the Company’s periodic and other filings with the Securities and Exchange Commission. By making these forward-looking statements, Acutus undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Investor Contact: | Media Contact: | ||||
Caroline Corner | Levitate | ||||
Westwicke ICR | M: 260-408-5383 | ||||
| D: 415-202-5678 | acutus@levitatenow.com | ||||
caroline.corner@westwicke.com | |||||
Press Release | | ||||
Acutus Medical, Inc.
Condensed Consolidated Balance Sheets
| (in thousands, except per share amounts) | June 30, 2022 | December 31, 2021 | |||||||||
| (unaudited) | |||||||||||
| ASSETS | |||||||||||
| Current assets: | |||||||||||
| Cash and cash equivalents | $ | 46,567 | $ | 24,071 | |||||||
| Marketable securities, short-term | 42,400 | 76,702 | |||||||||
| Restricted cash, short-term | 150 | 150 | |||||||||
| Accounts receivable | 2,596 | 3,633 | |||||||||
| Inventory | 15,307 | 16,408 | |||||||||
| Prepaid expenses and other current assets | 9,030 | 5,326 | |||||||||
| Total current assets | 116,050 | 126,290 | |||||||||
| Marketable securities, long-term | — | 7,120 | |||||||||
| Restricted cash, long-term | 4,000 | — | |||||||||
| Property and equipment, net | 11,366 | 13,670 | |||||||||
| Right-of-use assets, net | 4,191 | 4,521 | |||||||||
| Intangible assets, net | 1,683 | 5,013 | |||||||||
| Goodwill | — | 12,026 | |||||||||
| Other assets | 1,040 | 1,152 | |||||||||
| Total assets | $ | 138,330 | $ | 169,792 | |||||||
| LIABILITIES AND STOCKHOLDERS' EQUITY | |||||||||||
| Current liabilities: | |||||||||||
| Accounts payable | $ | 7,975 | $ | 7,519 | |||||||
| Accrued liabilities | 9,138 | 9,096 | |||||||||
| Contingent consideration, short-term | 1,800 | 1,500 | |||||||||
| Operating lease liabilities, short-term | 437 | 395 | |||||||||
| Warrant liability | 3,379 | — | |||||||||
| Total current liabilities | 22,729 | 18,510 | |||||||||
| Operating lease liabilities, long-term | 4,346 | 4,591 | |||||||||
| Long-term debt | 34,199 | 40,415 | |||||||||
| Contingent consideration, long-term | 400 | 500 | |||||||||
| Other long-term liabilities | 5 | 50 | |||||||||
| Total liabilities | 61,679 | 64,066 | |||||||||
| Stockholders' equity | |||||||||||
| Preferred stock, $0.001 par value | — | — | |||||||||
| Common stock, $0.001 par value | 28 | 28 | |||||||||
| Additional paid-in capital | 590,429 | 584,613 | |||||||||
| Accumulated deficit | (512,997) | (478,698) | |||||||||
| Accumulated other comprehensive loss | (809) | (217) | |||||||||
| Total stockholders' equity | 76,651 | 105,726 | |||||||||
| Total liabilities and stockholders' equity | $ | 138,330 | $ | 169,792 | |||||||
Press Release | | ||||
Acutus Medical, Inc.
Condensed Consolidated Statements of Operations and Comprehensive Income (Loss)
| Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||||||||
| (in thousands, except share and per share amounts) | 2022 | 2021 | 2022 | 2021 | |||||||||||||||||||
| (unaudited) | (unaudited) | ||||||||||||||||||||||
| Revenue | $ | 4,076 | $ | 4,709 | $ | 7,757 | $ | 8,300 | |||||||||||||||
| Costs and operating (income) expenses: | |||||||||||||||||||||||
| Cost of products sold | 9,697 | 7,492 | 16,638 | 14,447 | |||||||||||||||||||
| Research and development | 7,935 | 9,174 | 15,938 | 18,544 | |||||||||||||||||||
| Selling, general and administrative | 14,143 | 15,601 | 28,528 | 31,853 | |||||||||||||||||||
| Goodwill impairment | — | — | 12,026 | — | |||||||||||||||||||
| Restructuring | — | — | 949 | — | |||||||||||||||||||
| Change in fair value of contingent consideration | 948 | (258) | 955 | (1,411) | |||||||||||||||||||
| Gain on sale of business | (43,575) | — | (43,575) | — | |||||||||||||||||||
| Total costs and operating (income) expenses | (10,852) | 32,009 | 31,459 | 63,433 | |||||||||||||||||||
| Income (loss) from operations | 14,928 | (27,300) | (23,702) | (55,133) | |||||||||||||||||||
| Other income (expense): | |||||||||||||||||||||||
| Loss on debt extinguishment | (7,947) | — | (7,947) | — | |||||||||||||||||||
| Interest income | 27 | 29 | 51 | 69 | |||||||||||||||||||
| Interest expense | (1,290) | (1,456) | (2,701) | (2,844) | |||||||||||||||||||
| Total other expense, net | (9,210) | (1,427) | (10,597) | (2,775) | |||||||||||||||||||
| Income (loss) before income taxes | 5,718 | (28,727) | (34,299) | (57,908) | |||||||||||||||||||
| Income tax benefit | — | — | — | — | |||||||||||||||||||
| Net income (loss) | $ | 5,718 | $ | (28,727) | $ | (34,299) | $ | (57,908) | |||||||||||||||
| Other comprehensive income (loss) | |||||||||||||||||||||||
| Unrealized gain (loss) on marketable securities | 18 | 4 | (39) | 10 | |||||||||||||||||||
| Foreign currency translation adjustment | (387) | 92 | (553) | (134) | |||||||||||||||||||
| Comprehensive income (loss) | $ | 5,349 | $ | (28,631) | $ | (34,891) | $ | (58,032) | |||||||||||||||
| Basic net income (loss) per common share | $ | 0.16 | $ | (1.02) | $ | (1.22) | $ | (2.06) | |||||||||||||||
| Diluted net income (loss) per common share | $ | 0.16 | $ | (1.02) | $ | (1.22) | $ | (2.06) | |||||||||||||||
| Basic weighted average shares outstanding | 28,339,362 | 28,152,305 | 28,229,338 | 28,092,329 | |||||||||||||||||||
| Diluted weighted average shares outstanding | 28,349,429 | 28,152,305 | 28,229,338 | 28,092,329 | |||||||||||||||||||
Press Release | | ||||
Acutus Medical, Inc.
Condensed Consolidated Statements of Cash Flows
| Six Months Ended June 30, | |||||||||||
| (in thousands) | 2022 | 2021 | |||||||||
| (unaudited) | |||||||||||
| Cash flows from operating activities | |||||||||||
| Net loss | $ | (34,299) | $ | (57,908) | |||||||
| Adjustments to reconcile net loss to net cash used in operating activities: | |||||||||||
| Depreciation expense | 3,145 | 2,747 | |||||||||
| AcQMap Systems converted to sales | 110 | — | |||||||||
| Sales-type lease gain | (57) | — | |||||||||
| Amortization of intangible assets | 320 | 320 | |||||||||
| Stock-based compensation expense | 5,613 | 6,686 | |||||||||
| Amortization of premiums and accretion of discounts on marketable securities, net | 264 | 797 | |||||||||
| Amortization of debt issuance costs | 641 | 672 | |||||||||
| Amortization of right-of-use assets | 321 | 343 | |||||||||
| Goodwill impairment | 12,026 | — | |||||||||
| Loss on debt extinguishment | 7,947 | — | |||||||||
| Gain on sale of business | (43,575) | — | |||||||||
| Change in fair value of contingent consideration | 955 | (1,411) | |||||||||
| Changes in operating assets and liabilities: | |||||||||||
| Accounts receivable | 1,037 | (1,199) | |||||||||
| Inventory | 1,101 | (1,705) | |||||||||
| Prepaid expenses and other current assets | (3,592) | 2,501 | |||||||||
| Other assets | 223 | (289) | |||||||||
| Accounts payable | 236 | (2,727) | |||||||||
| Accrued liabilities | (386) | 1,600 | |||||||||
| Operating lease liabilities | (203) | (342) | |||||||||
| Other long-term liabilities | (45) | — | |||||||||
| Net cash used in operating activities | (48,218) | (49,915) | |||||||||
| Cash flows from investing activities | |||||||||||
| Proceeds from sale of business | 50,000 | — | |||||||||
| Direct costs paid related to sale of business | (2,488) | — | |||||||||
| Purchases of available-for-sale marketable securities | — | (9,134) | |||||||||
| Sales of available-for-sale marketable securities | 13,099 | 4,590 | |||||||||
| Maturities of available-for-sale marketable securities | 27,787 | 44,407 | |||||||||
| Purchases of property and equipment | (1,718) | (5,841) | |||||||||
| Net cash provided by investing activities | 86,680 | 34,022 | |||||||||
| Cash flows from financing activities | |||||||||||
| Repayment of debt | (44,550) | — | |||||||||
| Penalty fees paid for early prepayment of debt | (1,074) | — | |||||||||
| Borrowing under new debt | 35,000 | — | |||||||||
| Payment of debt issuance costs | (624) | — | |||||||||
| Payment of deferred offering costs | — | (10) | |||||||||
| Payment of contingent consideration | (598) | (2,758) | |||||||||
| Repurchase of common shares to pay employee withholding taxes | (45) | — | |||||||||
| Proceeds from stock options exercises | 66 | 619 | |||||||||
| Proceeds from employee stock purchase plan | 182 | — | |||||||||
| Net cash used in financing activities | (11,643) | (2,149) | |||||||||
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | (323) | (65) | |||||||||
| Net change in cash, cash equivalents and restricted cash | 26,496 | (18,107) | |||||||||
| Cash, cash equivalents and restricted cash, at the beginning of the period | 24,221 | 25,384 | |||||||||
| Cash, cash equivalents and restricted cash, at the end of the period | $ | 50,717 | $ | 7,277 | |||||||
Press Release | | ||||
Acutus Medical, Inc.
Reconciliation of GAAP Results to Non-GAAP Results
(Unaudited)
| Three Months Ended June 30, 2022 | Cost of products sold | Research and development | Selling, general and administrative | Income (loss) from operations | Other expenses, net | Net income (loss) | Net income allocated to common stockholders | Basic and diluted EPS | |||||||||||||||||||||||||||||||||||||||
| Reported | $ | 9,697 | $ | 7,935 | $ | 14,143 | $ | 14,928 | $ | (9,210) | $ | 5,718 | $ | 4,521 | $ | 0.16 | |||||||||||||||||||||||||||||||
| Amortization of acquired intangibles | (155) | — | (5) | 160 | — | 160 | 160 | 0.01 | |||||||||||||||||||||||||||||||||||||||
| Stock-based compensation | (225) | (554) | (1,802) | 2,581 | — | 2,581 | 2,581 | 0.09 | |||||||||||||||||||||||||||||||||||||||
| Change in fair value of contingent consideration | — | — | — | 948 | — | 948 | 948 | 0.03 | |||||||||||||||||||||||||||||||||||||||
| Gain on sale of business | — | — | — | (43,575) | — | (43,575) | (43,575) | (1.54) | |||||||||||||||||||||||||||||||||||||||
| Loss on debt extinguishment | — | — | — | — | 7,947 | 7,947 | 7,947 | 0.28 | |||||||||||||||||||||||||||||||||||||||
| Net income allocated to participating securities | — | — | — | — | — | — | 1,197 | 0.04 | |||||||||||||||||||||||||||||||||||||||
| Adjusted | $ | 9,317 | $ | 7,381 | $ | 12,336 | $ | (24,958) | $ | (1,263) | $ | (26,221) | $ | (26,221) | $ | (0.93) | |||||||||||||||||||||||||||||||
| Three Months Ended June 30, 2021 | Cost of products sold | Research and development | Selling, general and administrative | Loss from operations | Other expenses, net | Net loss | Basic and diluted EPS | ||||||||||||||||||||||||||||||||||
| Reported | $ | 7,492 | $ | 9,174 | $ | 15,601 | $ | (27,300) | $ | (1,427) | $ | (28,727) | $ | (1.02) | |||||||||||||||||||||||||||
| Amortization of acquired intangibles | — | — | (160) | 160 | — | 160 | 0.01 | ||||||||||||||||||||||||||||||||||
| Stock-based compensation | (223) | (629) | (2,924) | 3,776 | — | 3,776 | 0.13 | ||||||||||||||||||||||||||||||||||
| Change in fair value of contingent consideration | — | — | — | (258) | — | (258) | (0.01) | ||||||||||||||||||||||||||||||||||
| Adjusted | $ | 7,269 | $ | 8,545 | $ | 12,517 | $ | (23,622) | $ | (1,427) | $ | (25,049) | $ | (0.89) | |||||||||||||||||||||||||||
Press Release | | ||||
Acutus Medical, Inc.
Key Business Metrics
Installed Base & Procedure Volumes
Our total installed base as of June 30, 2022 and 2021 are set forth in the table below:
June 30, | ||||||||||||||
| 2022 | 2021 | |||||||||||||
| Key Business Metrics | (unaudited) | |||||||||||||
Installed base (1) | 75 | 70 | ||||||||||||
(1) Installed base includes AcQMap Systems.
Our total procedure volumes for the three and six months ended June 30, 2022 and 2021 is set forth in the table below:
Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||||||||
| 2022 | 2021 | 2022 | 2021 | ||||||||||||||||||||
| Key Business Metrics | (unaudited) | (unaudited) | |||||||||||||||||||||
| Procedure volumes | 481 | 401 | 948 | 768 | |||||||||||||||||||
Revenue
The following table sets forth the Company’s revenue for disposables, systems and service/other for the three and six months ended June 30, 2022 and 2021 (in thousands):
| Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||||||||
| 2022 | 2021 | 2022 | 2021 | ||||||||||||||||||||
| (unaudited) | (unaudited) | ||||||||||||||||||||||
| Disposables | $ | 3,334 | $ | 3,509 | $ | 6,545 | $ | 5,852 | |||||||||||||||
| Systems | 346 | 799 | 346 | 1,768 | |||||||||||||||||||
| Service/Other | 396 | 401 | 866 | 680 | |||||||||||||||||||
| Total revenue | $ | 4,076 | $ | 4,709 | $ | 7,757 | $ | 8,300 | |||||||||||||||
The following table provides revenue by geographic location for the three and six months ended June 30, 2022 and 2021 (in thousands):
| Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||||||||
| 2022 | 2021 | 2022 | 2021 | ||||||||||||||||||||
| (unaudited) | (unaudited) | ||||||||||||||||||||||
| United States | $ | 2,037 | $ | 2,486 | $ | 4,060 | $ | 4,068 | |||||||||||||||
| Outside the United States | 2,039 | 2,223 | 3,697 | 4,232 | |||||||||||||||||||
| Total revenue | $ | 4,076 | $ | 4,709 | $ | 7,757 | $ | 8,300 | |||||||||||||||